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Instant Cash ISA – Issue 1

Save up to £15,000 in the 2014/2015 tax year

Instant access to your cash

Transfer-in existing ISA funds in just 3 steps

Adding to an Instant Cash ISA - Issue 1 couldn’t be easier

You don’t have to take out a new one to use up your tax-free savings allowance

Summary box

Instant Cash ISA – Issue 1
If you top up, transfer or make a withdrawal, you may move between an interest tier. Withdrawals may take you into a lower tier.

Tax status:

Tax free: Interest is exempt from UK income tax provided all ISA conditions are met.

Withdrawals:

Instant access.

Access:

In branch. Access by phone and online also available if you have a Barclays current account and are registered for Online and Telephone Banking.

These additional conditions relate to Instant Cash ISA Issue 1, which supplement and amend the general conditions of your Customer Agreement with us (Barclays Bank PLC), and should be read in conjunction with the declaration you made when opening your account. In the event of any inconsistency between these additional conditions and the general conditions of the Customer Agreement, these terms will apply in relation to your cash ISA.

Definition
1.1 Instant Cash ISA Issue 1 is a cash ISA.

Availability
2.1 Applicants must be at least 16 and resident in the UK for tax purposes. Accounts must be held in your sole name only.
2.2 The ISA investments will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan.
2.3 In accordance with HM Revenue & Customs ISA Regulations, you are not eligible to apply if you have already subscribed to a cash ISA, or have already subscribed the maximum allowance to a stocks and shares ISA, either with us or another ISA manager, in the same tax year as you are applying for this ISA. These restrictions do not apply if you are transferring an existing cash ISA to us from another ISA manager in circumstances where this is permitted under the ISA regulations.

Cash ISA terms
Payments into and out of the account
3.1 You must make an initial deposit of at least £1 (with the exception of Transfers-In) when you open the account after which you can make deposits at any time.
3.2 The maximum amount you can subscribe is the maximum cash ISA limit per tax year as prescribed in the HM Revenue & Customs ISA Regulations irrespective of any withdrawals made. Any deposit counts towards your maximum subscription limit for the relevant tax year even if you subsequently make a withdrawal.
3.3 If you make deposits into your ISA more than the amount prescribed in the ISA Regulations the excess will be returned to you.
3.4 Payments out of the account are allowed at any time with no notice.

Transfers-In4.1 In accordance with HM Revenue & Customs ISA Regulations, you are allowed to transfer current tax year and/or previous tax years cash ISA subscriptions to another ISA manager at any time. When you transfer to Barclays, we call this a ‘Transfer-In’
4.2 You can only make Transfers-In to certain cash ISAs. Our interest rate leaflet and our website will tell you which of our ISAs accept transfers-in.
4.3 For cash ISAs that allow Transfers-In, you may transfer-in the funds held in existing cash ISAs, either with us or another ISA provider.
4.4 When opening a cash ISA with the intention of transferring another cash ISA into it no initial deposit is required.

Interest5.1 Interest can only be paid into the account.
5.2 Current interest rates and tiers are set out in our interest rate leaflet and on our website.
5.3 Interest is payable without the deduction of tax as long as you comply with the relevant ISA Regulations. The value of tax relief depends on individual circumstances.

Closure of your account
6.1 You can close your ISA at any time without notice by providing written instructions signed by you. If you have subscribed to your ISA during a tax year and then close the account, you will not be able to re-open the account or subscribe to another cash ISA either with us or any other ISA manager in the same tax year.
6.2 If you wish to close your ISA and notify us within 14 days of the opening day of the account or within 14 days of the day you receive these Terms and Conditions, whichever is the later, the agreement between us will be cancelled. The balance on your account and any gross interest earned will be repaid to you. Subject to HM Revenue & Customs conditions, you will still be able to open an ISA and your full annual subscription limits will remain.
6.3 We may close your account by immediate written notice to you if we are directed to close it by HM Revenue & Customs.
6.4 We may close your account by immediate written notice in the circumstances set out in condition 9.4 if the failure cannot be corrected or if you fail to take any action requested by us in writing within a reasonable period.

Transfer of your ISA to another ISA Manager7.1 To transfer your ISA (or part of the balance on your ISA) to another ISA manager you must give your transfer instructions to your new ISA manager who will forward your request on to us.
7.2 We will send the cash and relevant information to the new ISA manager after your new ISA manager has confirmed that the transfer should take place, and there is no reason (for example, to protect you from fraud or other criminal activity) for the transfer to be stopped.

Death8.1 ISA tax exemptions will no longer apply if you die during the term of your ISA. Interest will be paid without the deduction of tax only up until the date of death. When we receive notification of your death we will close your ISA and transfer the balance to a Barclays Net Personal Estate account which we will open in your name. We will pay any amount held in that account to your legal personal representatives when we receive the necessary legal confirmations.

General9.1 You may not transfer the ownership of your ISA to anyone else or use your ISA as security for any borrowing.
9.2 If you fail to subscribe to your ISA in any tax year, under ISA Regulations you will be required to make a new ISA declaration should you wish to continue to make further contributions.
9.3 We will only delegate our duties under the terms of this agreement to another account manager or a third party acting as our agent if we are satisfied that they are competent to carry out those duties.
9.4 We will notify you if, for any reason, your ISA has or will become void because of a failure to satisfy the ISA Regulations.

1. AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Tax-free: Indicates that interest is exempt from UK income tax provided all ISA conditions are met. The level and basis of tax can change and the value of tax relief depends on your personal circumstances.

2. Instant Cash ISA – Issue 1 is a cash ISA. Open from £1, or £0 for Transfers-In. Applicants must be 16 years old or over. Applicants must be resident in the UK for tax purposes. If you intend to subscribe to this cash ISA, you must not have subscribed to another cash ISA or used your total annual ISA allowance in a stocks and shares ISA during the same tax year. Rates are variable. Interest is paid monthly on the first working day of the month. We may withdraw the availability of Instant Cash ISA – Issue 1 at any time without notice. This would only apply to new accounts opened from that time.

3. On 1 July 2014, the 2014/2015 ISA allowance increased to £15,000. You can use your £15,000 allowance (less any of your allowance already used this tax year), all in a cash ISA, all in an investment ISA (also know as stocks and shares ISA) or in a combination of both. Annual allowances are subject to review and the government’s favourable tax treatment of ISAs may change in future.

4. Lines are open Monday to Friday 8am-9pm, Saturday 9am-9.30pm and Sunday 8am-9pm. To maintain a quality service, we may monitor or record calls.
Call charges
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Protecting your money

Your eligible deposits with Barclays Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme.

This limit is applied to the total of any deposits you have with the following: Barclays, Barclays Bank, Barclaycard, Barclays Business, Barclays Capital, Barclays Corporate, Barclays Direct, Barclays UK & Ireland Private Bank, Barclays International Private Banking, Barclays Premier, Barclays Private Bank, Barclays Wealth and Woolwich Mortgages. Any total deposits you hold above the £85,000 limit between these brands are not covered.

Barclays Bank PLC. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at www.lendingstandardsboard.org.uk. Barclays Insurance Services Company Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number: 312078).